RPM Acquires Koch Waterproofing Solutions

04/17/2003 |

MEDINA, Ohio, April 1 /PRNewswire-FirstCall/ -- RPM International Inc. (NYSE:RPM) announced today that its wholly owned subsidiary, Tremco Incorporated, has acquired Koch Waterproofing Solutions, Inc., the leading provider of waterproofing solutions to the residential new-construction market. Terms of the acquisition were not disclosed.

Koch Waterproofing Solutions, with sales of $30 million and headquarters in Reynoldsburg, Ohio, will operate as a stand-alone business within the Sealant/Weatherproofing Division of RPM's Tremco Group. Mark Patterson and his management team will continue to manage the business. Tremco is a leading supplier of roofing systems, sealants and weatherproofing solutions for the commercial and industrial construction markets.

Koch Waterproofing Solutions has built its reputation for quality on two well-known brands: TUFF-N-DRI(R), North America's leading brand of basement waterproofing, and WATCHDOG WATERPROOFING(R). The company has developed proprietary, spray-applied membranes and systems to provide homeowners with reliable moisture protection.

"Koch Waterproofing Solutions is an excellent strategic fit, and exemplifies the types of synergistic opportunities that RPM is targeting for acquisition," said Frank C. Sullivan, chief executive officer of RPM. "This acquisition extends Tremco's capabilities into adjacent markets and technologies, with industry-leading brands and an entrepreneurial management team."

RPM International Inc., a holding company, owns subsidiaries that are world leaders in specialty coatings serving both industrial and consumer markets. Industrial products include roofing systems, sealants, corrosion control coatings, flooring coatings and specialty chemicals. Consumer products are used by professionals and do-it-yourselfers for home maintenance and improvement, automotive and boat maintenance, and by hobbyists. Industrial brands include Stonhard, Tremco, Carboline, Day-Glo, Euco and Dryvit. Consumer brands include Zinsser, Rust-Oleum, DAP, Varathane, Bondo and Testors.